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Hooray for Hollywood!

August 1, 2017

 

Industry: LA on location film production hits 7 year high 

 

Film LA reported a sizable film production rebound for 2016 representing a new 7-year industry high. Over $30 billion in total production spend was reported, equating to 9% of LA's GCP. That's a 6.2% overall year over year increase, with $1.5 billion of that contributing to direct production spend. Feature films experienced the biggest increase since 2009, up 22.5%. Much of that increase was attributed to the extension of the California Film & Tax Credit Stimulus Program which provides $330 million in dedicated funding. Digital content demand realized the biggest increase of 34%. It was also reported that 85% of production filming occurs on-location rather than in studio, a whopping 110 shoots on average per day within the thirty-mile zone. It's official, the LA filming industry is on fire!

 

 

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